Triyards buys two Strategic Marine shipyards

Vessel under construction at Strategic Marine Vietnam shipyard

OCTOBER 15, 2014 — Singapore based Triyards Holdings has completed a A$23.3 million (US$20.3 million) deal with Henderson Marine Base Pty Ltd., Western Australia, that sees it acquire the Strategic Marine shipyards in Singapore and Vietnam.

Triyards says the acquisition is in line with its growth strategy of expanding its business through both organic expansion and acquisitions of quality assets in key strategic regions to develop its core business. In addition, the acquisition is expected to provide the group with increased fabrication capacities that will enable it to achieve economies of scale and scope. The increased capacity can also be used for new product and service offerings.

Back in August, Strategic Marine unveiled a Generation 3 crew transfer vessel for the international offshore markets and said that orders were being finalized. It also said that in January this year it had started constructing crewboats and windfarm sector vessels for stock, “shortening delivery periods to meet increased market demand.”

Speculation is that this strategy didn’t work out, leading to the sale of the two yards to Triyards.